Peloton Interactive (NASDAQ:PTON) Trading 3.8% Higher - Time to Buy?

Shares of Peloton Interactive, Inc. (NASDAQ:PTON - Get Free Report) were up 3.8% during trading on Wednesday . The stock traded as high as $6.34 and last traded at $6.46. Approximately 555,016 shares changed hands during trading, a decline of 97% from the average daily volume of 15,949,321 shares. The stock had previously closed at $6.22.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Argus upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research note on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Friday, March 14th. Needham & Company LLC restated a "hold" rating on shares of Peloton Interactive in a research note on Thursday, February 6th. JMP Securities reaffirmed a "market perform" rating on shares of Peloton Interactive in a research report on Friday, February 7th. Finally, The Goldman Sachs Group increased their price objective on Peloton Interactive from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Fifteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Peloton Interactive currently has an average rating of "Hold" and a consensus price target of $8.69.

Peloton Interactive Stock Up 1.6 %

The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -6.60 and a beta of 2.21. The company's 50-day moving average is $7.47 and its 200-day moving average is $7.65.

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Peloton Interactive (NASDAQ:PTON - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, research analysts forecast that Peloton Interactive, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nick V. Caldwell sold 68,727 shares of Peloton Interactive stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.59, for a total transaction of $452,910.93. Following the completion of the sale, the insider now directly owns 474,234 shares of the company's stock, valued at $3,125,202.06. The trade was a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Saqib Baig sold 22,662 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the sale, the chief accounting officer now directly owns 130,031 shares of the company's stock, valued at approximately $1,267,802.25. This trade represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 674,338 shares of company stock valued at $5,522,838. Company insiders own 1.34% of the company's stock.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently modified their holdings of PTON. R Squared Ltd acquired a new position in shares of Peloton Interactive in the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Peloton Interactive by 31.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company's stock valued at $31,000 after acquiring an additional 1,597 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Peloton Interactive by 969.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock worth $35,000 after purchasing an additional 3,636 shares during the period. Comerica Bank increased its holdings in Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after purchasing an additional 1,389 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Peloton Interactive in the 3rd quarter valued at about $58,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.